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Ventura Corporation purchased machinery on January 1, 2009 for $630,000. The company used the sum-of-the-years'-digits method and no salvage value to depreciate the asset for the first two years of its estimated six-year life. In 2010, Ventura changed to the straight-line depreciation method for this asset. The following facts pertain:2009 2010Straight-line $105,000 $105,000Sum-of-the-years'-digits 180,000 150,000
a) Ventura is subject to a 40% tax rate. The cumulative effect of this accounting change on beginning retained earnings is:
b) The amount that Ventura should report for depreciation expense on its 2011 income statement is:
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